Adaptive Biotechnologies (NASDAQ:ADPT) Insider Sharon Benzeno Sells 12,604 Shares

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) insider Sharon Benzeno sold 12,604 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $16.85, for a total transaction of $212,377.40. Following the completion of the sale, the insider directly owned 296,791 shares of the company’s stock, valued at $5,000,928.35. The trade was a 4.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Sharon Benzeno also recently made the following trade(s):

• On Thursday, November 20th, Sharon Benzeno sold 297,925 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $16.54, for a total transaction of $4,927,679.50.
• On Friday, November 21st, Sharon Benzeno sold 308,477 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $16.91, for a total transaction of $5,216,346.07.

Adaptive Biotechnologies Trading Up 1.4%

Shares of Adaptive Biotechnologies stock opened at $14.95 on Tuesday. Adaptive Biotechnologies Corporation has a 12 month low of $5.80 and a 12 month high of $20.76. The company has a market capitalization of $2.28 billion, a PE ratio of -27.68 and a beta of 2.20. The stock’s fifty day simple moving average is $16.39 and its 200 day simple moving average is $13.29.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. Adaptive Biotechnologies had a negative return on equity of 58.40% and a negative net margin of 31.50%.The company had revenue of $93.97 million for the quarter, compared to analyst estimates of $58.76 million. During the same quarter last year, the firm posted ($0.22) earnings per share. Adaptive Biotechnologies’s revenue was up 102.4% compared to the same quarter last year. Analysts predict that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ADPT has been the topic of a number of research reports. Piper Sandler lifted their price target on shares of Adaptive Biotechnologies from $15.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. BTIG Research boosted their price objective on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Morgan Stanley began coverage on Adaptive Biotechnologies in a report on Monday, December 1st. They set an “equal weight” rating and a $21.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Adaptive Biotechnologies currently has an average rating of “Moderate Buy” and an average price target of $17.11.

Institutional Investors Weigh In On Adaptive Biotechnologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sound Income Strategies LLC bought a new position in shares of Adaptive Biotechnologies in the 3rd quarter valued at about $30,000. Smartleaf Asset Management LLC raised its holdings in Adaptive Biotechnologies by 593.5% during the third quarter. Smartleaf Asset Management LLC now owns 3,939 shares of the company’s stock worth $59,000 after acquiring an additional 3,371 shares in the last quarter. Blair William & Co. IL acquired a new position in Adaptive Biotechnologies during the first quarter valued at approximately $84,000. Candriam S.C.A. bought a new position in Adaptive Biotechnologies in the first quarter valued at approximately $90,000. Finally, Caxton Associates LLP bought a new position in Adaptive Biotechnologies in the first quarter valued at approximately $93,000. 99.17% of the stock is owned by institutional investors.

About Adaptive Biotechnologies

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunosequencing platform which combines a suite of proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data to decode the adaptive immune system.